71-75 Shelton Street | Covent GardenLondon | WC2H 9JQ​​

0207 096 1988

info@olympiafinance.co.uk

Olympia Finance is an independent mortgage intermediary with access to the whole of market, Here at the Olympia finance your case would be dealt by a experienced and qualified mortgage adviser from the beginning to end. We understand every client’s situation is different and unique hence we tailor our service to meet your needs

GET IN TOUCH

Whether it’s a mortgage, commercial investment or insurance, Contact us today with your requirements via phone or email. Alternatively fill up the contact form and we will get back to you as soon as possible

Brexit and inflation to chill 2018 mortgage market: EY

December 30, 2017

No Comments

Brexit and inflation will cool the 2018 mortgage market, according to EY.
UK mortgage stock will hit £1.19trn in 2017, dip to £1.18trn in 2018 and rise to £1.2trn by 2020, EY says in its latest outlook for UK financial services.
The City is also set to suffer a slowdown next year, EY warns.
EY thinks business lending is predicted to stagnate in 2018 and 2019 before slowly climbing to £435bn by 2020.
However, with inflation set to hit 3 per cent later in the year while real household incomes forecast to decline by 0.2 per cent, demand for consumer credit could rise if households attempt to compensate for the hit by borrowing more.
EY forecasts consumer loans will grow from £204bn in 2017 to £218bn in 2020.
EY’s UK financial services managing partner Omar Ali says: “Even modelling for a Brexit transitional deal, the outlook for 2018 remains tough for financial services as the impact of higher inflation is felt by households up and down the country. Business lending, mortgage lending and general insurance look set to be the hardest hit.
“Despite warnings from the Bank of England and some high-street lenders, the only type of lending that is expected to grow in 2018 is consumer credit.
“A return to mortgage and business lending growth is forecast for the latter stages of the decade, but this does depend on the right deal being struck with Europe.”